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REGISTERED NUMBER: 12511784 (England and Wales)












FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2023

FOR

TONEY HYDRAULIC SERVICES LIMITED

TONEY HYDRAULIC SERVICES LIMITED (REGISTERED NUMBER: 12511784)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


TONEY HYDRAULIC SERVICES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JULY 2023







DIRECTORS: Mr S L Toney
Mr A M Toney





REGISTERED OFFICE: 1 Langley Court
Pyle Street
Newport
Isle of Wight
PO30 1LA





REGISTERED NUMBER: 12511784 (England and Wales)





ACCOUNTANTS: Mackenzies
Chartered Accountants
1 Langley Court
Pyle Street
Newport
Isle of Wight
PO30 1LA

TONEY HYDRAULIC SERVICES LIMITED (REGISTERED NUMBER: 12511784)

BALANCE SHEET
31 JULY 2023

2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible assets 4 7,434 9,911

CURRENT ASSETS
Stocks 25,000 15,000
Debtors 5 57,072 50,959
Cash at bank and in hand 6,232 3,588
88,304 69,547
CREDITORS
Amounts falling due within one year 6 89,718 68,121
NET CURRENT (LIABILITIES)/ASSETS (1,414 ) 1,426
TOTAL ASSETS LESS CURRENT
LIABILITIES

6,020

11,337

CAPITAL AND RESERVES
Called up share capital 7 2 2
Retained earnings 6,018 11,335
SHAREHOLDERS' FUNDS 6,020 11,337

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

TONEY HYDRAULIC SERVICES LIMITED (REGISTERED NUMBER: 12511784)

BALANCE SHEET - continued
31 JULY 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Profit and loss account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 11 March 2024 and were signed on its behalf by:




Mr S L Toney - Director



Mr A M Toney - Director


TONEY HYDRAULIC SERVICES LIMITED (REGISTERED NUMBER: 12511784)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023


1. STATUTORY INFORMATION

Toney Hydraulic Services Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and loss account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

TONEY HYDRAULIC SERVICES LIMITED (REGISTERED NUMBER: 12511784)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£ £ £ £ £
COST
At 1 August 2022
and 31 July 2023 6,610 628 9,983 292 17,513
DEPRECIATION
At 1 August 2022 2,892 275 4,368 67 7,602
Charge for year 929 88 1,404 56 2,477
At 31 July 2023 3,821 363 5,772 123 10,079
NET BOOK VALUE
At 31 July 2023 2,789 265 4,211 169 7,434
At 31 July 2022 3,718 353 5,615 225 9,911

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Trade debtors 36,531 31,112
Directors' current accounts 19,263 16,770
Prepayments 1,278 3,077
57,072 50,959

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Trade creditors 27,477 28,161
Tax 12,555 10,411
Social security and other taxes 898 703
VAT 5,281 5,128
Other creditors 10,253 128
Directors' current accounts 33,254 22,813
Accrued expenses - 777
89,718 68,121

Other creditors consists of pension contributions due of £193 (2022: £128), net wages due of £1,061 (2022: £nil), and amount owed to Vicky Spencer of £9,000 (2022: £nil).

TONEY HYDRAULIC SERVICES LIMITED (REGISTERED NUMBER: 12511784)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023


7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £ £
2 Ordinary £1 2 2